KILIMANJARO, May 12 -- MWANGA Hakika has raised shareholder dividend payout after the lender announced a 20 per cent increase in returns to investors, underscoring strong earnings growth and expanding customer business last year.

The board of Mwanga Hakika Bank proposed a dividend of 30/- per share, up from 18/- previously and the shareholders approved the amount, reflecting improved profitability and solid balance sheet performance driven by growth in both deposits and lending activities.

The Mwanga Hakika Chairman Eng Ridhuan Mringo attributed the great achievements to among other factors, measures implemented by the board over the past two years, aimed at making the institution one of the best financial entities inside and outside th...